M&G’s Fedeli Shifts to Cheaper Stocks After Tech’s Rapid Rally

M&G Investment Management is taking profit in technology stocks that have seen rapid gains and is instead seeking undervalued companies with strong fundamentals given volatile markets, said executive Fabiana Fedeli.

“We took some profit out of technology. Some of the stocks from the last month had gone up one, two-fold,” Fedeli, its chief investment officer for equities, multi asset and sustainability, said in a Bloomberg TV interview.